Louisiana Administrative Code Title 37 - INSURANCE
Louisiana Administrative Code (LAC) Title 37 – Insurance governs the regulatory framework for the insurance industry within the state of Louisiana. It is promulgated by the Louisiana Department of Insurance and includes rules that affect insurance companies, agents, brokers, and other related entities.
🔍 Overview of Title 37 – INSURANCE:
Title 37 is divided into various parts and chapters, each focusing on specific areas within the insurance sector. Below is a high-level summary of the major components:
📚 Main Divisions (Parts) May Include:
Part I: General Provisions
Definitions and general rules applicable across insurance regulation.
Requirements for filings, notices, and hearings.
Part III: Licensing
Procedures for licensing insurance producers, adjusters, and consultants.
Continuing education requirements.
Disciplinary actions and revocations.
Part V: Rates and Forms
Rules regarding rate filings and policy form approvals.
Filing requirements for property, casualty, life, and health insurance.
Part VII: Solvency and Financial Regulation
Standards for maintaining financial health of insurers.
Reporting, examinations, and audits.
Part IX: Consumer Protections
Rules regarding unfair trade practices.
Consumer complaint procedures.
Disclosure requirements.
Part XI: Specific Lines of Insurance
Health, life, auto, property, surplus lines, workers' compensation, etc.
Rules specific to each type of insurance coverage.
Part XIII: Residual Market Mechanisms and Risk Pools
Louisiana Citizens Property Insurance Corporation.
High-risk pool regulations.
🛠️ Regulatory Authority
Administered by the Louisiana Department of Insurance (LDI).
Implements laws found in the Louisiana Insurance Code (Title 22 of the Louisiana Revised Statutes).
📄 Example Regulations Found in Title 37:
Requirements for insurers doing business in Louisiana.
Procedures for rate increase approvals.
Compliance with Affordable Care Act (ACA) mandates.
Catastrophe response plans (especially for hurricanes).
Rules for advertising insurance products.
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